nintendo cuts fullyear profit view on wii u woes
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Despite the immense global popularity

Nintendo cuts full-year profit view on Wii U woes

Arab Today, arab today

Arab Today, arab today Nintendo cuts full-year profit view on Wii U woes

Nintendo reported a 5.95 billion yen ($57 million)
Tokyo - Arab Today

Nintendo cut its full-year outlook Wednesday blaming disappointing Wii U game sales and a strong yen, but it remained profitable thanks to the sale of the Seattle Mariners baseball team.

The warning came despite the immense global popularity of the Pokemon Go app this summer, which was downloaded by millions, as the franchise-creator does not own the game's licence.

The Japanese videogame firm warned its fiscal year operating profit would come in at 30 billion yen, about one-third less than an earlier forecast, while sales would also be lower than expected.

On Wednesday, Kyoto-based Nintendo reported a 5.95 billion yen ($57 million) operating loss in the April-September period, the first half of its fiscal year, while revenue dived 33 percent from a year ago. 

But the Super Mario maker's net profit in the latest period jumped more than three-fold to 38.3 billion yen, as it booked a one-time gain from the sale of its controlling stake in the US baseball team in the summer.

Facing stiff competition from PlayStation 4 maker Sony and the rise in online gaming, Nintendo said earlier this year it would sell the team as it tries to repair its battered finances.

It has owned a stake in the Mariners since the early 1990s.

Nintendo's latest results come days after its shares sank as a sneak peak at its long-awaited new console left gamers and analysts underwhelmed.

In a three-minute video posted on its YouTube channel last week, the firm unveiled its hybrid Nintendo Switch which can be played at home and on the go, thanks to a removable screen with the controllers attached. 

The device is due to be released in March, although Nintendo has yet to supply a specific date.

Reviews were mixed, but some described the console as disappointing.

- Limited impact -

Nintendo is looking for a hit product to offset disappointing sales of its Wii U and related games, as well as its 3DS handheld device.

Six-month sales of the Wii U console more than halved from a year ago, while related game sales were off 33 percent, Nintendo said.

"Income from the sale of its stake in the Mariners is a one-time thing," Hideki Yasuda, an analyst at Ace Research Institute in Tokyo, told AFP before Wednesday's results.

"The environment surrounding Nintendo's main business remains tough (and) it will be some time before the Nintendo Switch hits store shelves."

Japanese firms that do business overseas such as Nintendo have been hit hard by a rally in the yen in recent months, shrinking the value of their foreign-earned income when repatriated.

After years of pressure, Nintendo abandoned its consoles-only policy and entered into the smartphone game market earlier this year.

In March, it released "Miitomo" -- a free-to-play and interactive game -- as it tries to compete in an industry that has increasingly gone online.

This summer it scored another hit with the Pokemon Go app, but the impact on Nintendo's profits will be limited.

The company is the creator of the Pokemon franchise but the game, released in July, was developed and distributed by US-based Niantic, a spinoff of Google.

Nintendo has invested in Niantic and owns about one-third of the Pokemon Company, which receives licensing fees for loaning out the brand.

The Pokemon Go phenomenon helped boost Nintendo's share price, pushing it above 30,000 yen at one stage, as markets cheered the app's global success as a positive sign for the long-awaited move into mobile gaming.

Nintendo shares ended down 0.7 percent at 24,520 yen Wednesday, before the earnings release.

Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

nintendo cuts fullyear profit view on wii u woes nintendo cuts fullyear profit view on wii u woes

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

nintendo cuts fullyear profit view on wii u woes nintendo cuts fullyear profit view on wii u woes

 



GMT 09:16 2017 Wednesday ,13 December

Cape wearing tips

GMT 20:49 2017 Monday ,21 August

South Asia floods claim more than 750 lives

GMT 19:06 2016 Saturday ,10 December

IOF Close Al-Nabi Saleh Village's Entrance

GMT 18:01 2017 Wednesday ,22 February

Abu Sayyaf ‘likely’ behind Vietnam freighter attack

GMT 06:41 2017 Sunday ,03 December

Hamas threatens 'intifada' over US moves on Jerusalem

GMT 16:17 2017 Saturday ,21 January

BMW 7 series crosses 5,000 unit mark in 2016

GMT 12:17 2016 Wednesday ,24 February

United Technologies nixes Honeywell merger

GMT 23:37 2017 Monday ,31 July

Saudi Arabia sanctions Hezbollah member

GMT 05:45 2018 Saturday ,29 September

Abdullah bin Zayed hosts official reception in New York

GMT 04:12 2018 Friday ,12 January

Saudi-led coalition says Yemen rebels threat

GMT 11:18 2014 Monday ,22 December

Richard Ward adds to The Chelsea Collection
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday